GE signs deals of US$157b as part of GE Capital divestment

US conglomerate General Electric Co said it signed US$157 billion in transactions in 2015 as part of its efforts to divest most of its finance business, GE Capital. 

PHOTO: BLOOMBERG

JAN 7, 20168:24 PM

[NEW YORK] US conglomerate General Electric Co said it signed US$157 billion in transactions in 2015 as part of its efforts to divest most of its finance business, GE Capital.

The company also said it has closed transactions of US$104 billion, more than half of the target set while announcing its plans to reduce the financing business to less than 10 per cent of its total earnings.

An active sales process is ongoing for the remaining international businesses while the company continues to close the previous deals, GE Capital Chief Executive Keith Sherin said.

GE Capital accounted for 42 per cent of the company's profit in 2014.

REUTERS